However, a ratio of one-to-four diesel-to-petrol is bad news for dealers trying to bolster diesel supplies.
Stuart Empson, senior analyst on CAP’s Black Book, said: ‘There is clear evidence that diesel used car price premiums have been increasing this year and this reflects a growing consumer taste for the benefits of modern diesel technology.
‘Although this growing consumer demand for used diesels poses problems for dealers, it is good news for the big fleets who rely on the reception given to their vehicles in the used market for much of their profitability.’
Volkswagen Financial Services celebrated its 10th anniversary recently with a special sale. Held at BCA Nottingham, 150 buyers turned up to bid on nearly 300 cars from the VW Group stable which included Volkswagen, Audi, SEAT, Skoda and even Bentley.
More than 250 cars were sold for more than 100% of price guides at a turnover of £2 million. The highest-value car on the day was a 2000 X Bentley Arnage, at £67,500.
Used car retail sales increased in July, although at the cost of driving down prices. Daren Wiseman, managing editor of CAP Black Book, said: ‘One feature of the current used car market is that dealers have been driving prices down in the trade in order to price cars more attractively on the forecourt.
‘Our research shows that this is paying off, with our measure of ‘showroom footfall’ - the number of potential customers visiting dealers - showing a marked increase in July. Further evidence of their success in converting many of these visitors into buyers is revealed by the fact that the vast majority of dealers are still actively buying cars for stock.’